UK current account deficit should “ring alarm bells” for the UK June 30, 2015 The UK's current account deficit should ring an "alarm bell" for the UK, the British Chambers of Commerce (BCC) said today, after official figures showed the deficit was £26.5bn in the first quarter of the year. The figure – a measure of the UK's success in exports – has narrowed from last year's £28.9bn – [...]
European markets begin second day of falls as Greece confirms it won’t make today’s IMF payment deadline June 30, 2015 The FTSE 100 was 0.6 per cent down in late morning trading today, after Greece confirmed last night it will definitely miss today's 6pm deadline to pay the International Monetary Fund (IMF) €1.6bn (£1.1bn). Read more: George Osborne vows to help Britons hit by Greek crisis Meanwhile, although both the Cac and the Dax fell, [...]
Greece will default on its €1.6bn repayment to the IMF today June 30, 2015 Greece will not pay the €1.6bn (£1.14bn) it owes to the IMF today, Athens has confirmed Read more: How Twitter became Alexis Tsipras’ secret weapon in Greek negotiations The beleaguered country is required to make the repayment to its creditor by 11pm on 30 June, after saying it would bundle all its payments for the month [...]
Here’s why today’s “leap second” is creating anxiety among traders and businesses leaders around the world June 30, 2015 This evening at 8pm New York time (that's 1am over here) clocks around the world will have a “leap second” added to the end of the day. Read more: Daylight Saving Time has arrived – here are seven interesting facts you should know about the clock change It's a necessity resulting from the introduction [...]
Greek debt crisis: George Osborne vows to help British pensioners, businesses and holiday makers June 29, 2015 Chancellor George Osborne has said that the government will protect British pensioners, businesses and holiday makers who stand to lose money in the ongoing Greek debt crisis. In a special statement to the House of Commons yesterday, Osborne said that Britain is “prepared” in a “rapidly changing situation”. “Britain’s attitude to the developing [...]
Chinese stocks plummet amid valuation fears June 29, 2015 China’s equity bubble edged closer to bursting yesterday, as stocks plummeted despite the best efforts of the country’s central bank to steady the market. The benchmark Shanghai Composite index closed 3.3 per cent lower to 4,053 and the Shenzhen Composite fell 6.1 per cent, amid mounting concerns that stocks are overvalued. The Shanghai Composite was [...]
Convenience retailers spend £177m on shops June 29, 2015 Convenience retailers spent £177m refurbishing their stores in the three months to May amid increased competition from their peers, coffee shops and food chains all vying for a bigger share of the food-to-go market. Britain’s booming convenience market is now worth over £37bn and consists of 50,000 stores – of which less than 2,500 are [...]
Greek Prime Minister Alexis Tsipras calls on Greeks to vote “no” to reforms June 29, 2015 Even if Greece votes against accepting the reforms put forward by creditors, it will not be pushed out of the Eurozone, according to Prime Minister Alexis Tsipras. Read more: Jean-Claude Juncker says he feels "betrayed" by Alexis Tsipras During an interview televised on the Greek ERT channel on Monday night, he called on the [...]
S&P downgrades Greece and puts chances of Grexit at 50 per cent June 29, 2015 S&P has downgraded Greece's credit rating from CCC to CCC-, and says there is a 50 per cent chance it will leave the Euro. Read more: Greece will default on its €1.6bn repayment to the IMF tomorrow It made the change because it feels that, unless circumstances change, Athens will probably default on its [...]
Airports Commission report: Heathrow or Gatwick runway expansion? A decision will finally be made on Wednesday June 29, 2015 We are finally going to find out the best way to accommodate the ever increasing number of people traveling to the UK by air. The long-delayed decision by Sir Howard Davies's Airports Commission on the best way to expand airport capacity will be revealed on Wednesday after a long and hard-fought battle between Heathrow and [...]